L - Brands - Shares - % - Thursday

Struggles - L - Brands - Victoria - Secret

The struggles keep coming for L Brands and its Victoria's Secret brand.

Victoria's Secret comparable sales fell 1% in June, and store-only comparables fell 6%. Those numbers were at least partially responsible for the more than 11% drop L Brands shares suffered on Thursday.

Numbers - Example - Victoria - Secret - Market

And the numbers are the lastest example of how Victoria's Secret is rapidly losing market share to competitors like American Eagle Outfitters' Aerie, and is turning to discounts and promotions to turn things around. The struggles have been a big reason for the 45% drop in L Brands shares this year.

"It's Game Over For Victoria's Secret," Jefferies analyst Randal Konik wrote in a note sent out to clients after the sales figures were released. Victoria's Secret made up 47% of total L Brands revenue in...